Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1887-12-06
HOW THIS COUNTRY rs ROE.
Fed.

man OF London, on "the elemental
might of weights of standard metals
expressed in prices and rates of ex-
change" Careful estimates are
made of the cost of production OF
wheat in the United States and
India and the carriage to Liverpool.
Then he makes Al pence or 444
grains of silver 1000 fine, and stan
dard, with the ratio of 81 .43 silver to
gold deducts one-tenth per cent, for
Indian coinage, leaving 2,23S,6Si
grains of fine silver the cost of a
quarter of wheat in India, which is
equal to 106,SO7 grains of gold. To
this is added co., 246 grains of gold
as freight from India. In the same
way the cost of American wheat per
quarter is figured in Liverpool at
1892 grains of gold, against 49,
O53 for Indian wheat, or, in other
words, American wheat laid down
in Liverpool costs 40 per cent
more than wheat from India. And
the following significant paragraph
is added.
If exchange with India should
from any cause rise to 16 parts OF
silver to l of gold, it would make
Indian wheat Is per cent dearer
than American.
That tells the whole story in five
lines. That proves, by exact data,
what we have been asserting, in
general terms, for months, namely:
That the farmers of the United
States are losing more money by the
shameful legislation against silver
than the silver miners are.
This writer shows that if silver
was at par with gold, it would
cost just "a 10 per cent. more to
lay India wheat down in Liverpool
than it now does. That means,
that because of the war on silver,
the American farmers wheat has
been beaten down in price just "a Z
10 per cent. In the face of this, our
statesmen at Washington, and our
National bankers in the East, insist
that the only way in which silver
can be touched with any safety, is
to induce England to recognize it.
In other words, they say. "You
must induce England to pay pa z
10 per cent. more for bread than
she is paying now, or you must
abandon the use of silver as mon
ey." How high an appreciation of
American craftsmanship and of
American financiering must the
shrewd men of England have, as
they look on and see Americans not
only submitting to a loss on the
products of their millions of farms
of "a 7-10 per cent, but at the
same time sending their silver to
England, to have the traders there
set the price upon 1t from day to day !,
when 1t is as plain as the sun
light that if the United States would
retain that metal and put it in use,
no power on earth could prevent it
from gravitatinS back to its place
beside of gold within two years.
Then how they must laugh to hear the
American farmer inveighing against
the short-weight dollar, to hear the
bankers assert that we must have
EngIand's consent before we can
call a dollar dollar, and once a
year hear a dissertation from the
Executive of the Republic against
piling up any more silver in the
vaults of the Treasury.
This same writer explains that
the price of silver in London in
July, 1872, was 80 Lied. per ounce,
making the value of the silver dollar
$IO1 ,S3 in July, 1886, the price OF
silver in London was 42d., making
the value OF the dollar 7l.20 cts. !,
indicating an appreciation of gold
equal to 28S cts. The price of sill
yer is now about AID. Still, there
is no surplus of silver bullion in
Europe, nothing but silver coin,
which is in,every day use, at the rate
of 1873 to 1, while the demand from
r-l:. $500, En0lapI on,o1ntS f0